Celestia Raises $55M to Launch Modular Blockchains
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The Celestia Foundation has raised $55 million in a round led by Bain Capital Crypto and Polychain Capital.
Other participants in the funding round include Placeholder, Galaxy, Delphi Digital, Blockchain Capital, NFX, Protocol Labs, Figment, Maven 11, Spartan Group, FTX Ventures, Jump Crypto, and several angel investors including Balaji Srinivasan and Eric Wall.
Celestia provides clients with a modular architecture for deploying and scaling blockchains.
According to the press release:
“These specialized networks are less restrictive and break monolithic chains into flexible components, promising greater scale, security and decentralization.”
According to Celestia, modular blockchains will be “defining the next decade of Web3 innovation.”
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